Buy on rebound from 0.7873 level with 0.7955 target. Stop loss = 0.7810.
Reason for the trading strategy
In May, the Westpac consumer confidence index in Australia rose by 6.4% (m/m), with the previous value being -3.2% (m/m). After Australia's interest rate declined in early May, a growth in consumer spending should be expected in the country. The data is positive for the Aussie.